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Computer Science

A survey of blockchain from security perspective

Profile image of John ShreinJohn Shrein

2019, Journal of Banking and Financial Technology

https://doi.org/10.1007/S42786-018-00002-6
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17 pages

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Abstract

The report starts with an overview of the blockchain security system and then highlights the specific security threats and summarizes them. We review with some comments and possible research direction. This survey, we examines the security issues of blockchain model related technologies and their applications. The blockchain is considered a still growing like the internet in 1990. It has the potential to disrupt so many technology areas in the future. But as a new underdeveloped field, it is suffering many setbacks mostly resulting from the security area. Its security concerns coming not only from distributed/ decentralized computing issue or Cryptography algorithm issue, from some unexpected field too. Here, in this paper, we tried to classify the security concerns for the blockchain based on our survey from recent research papers. We also tried to show which way blockchain development trends are going.

Figures (15)
Many of these standardized elliptic curves either have theo- retical weaknesses or were generated using questionable parameters. For example, the NIST P-256 curve is viewed skeptically by some cryptographers because derivation of the curve parameters are not well explained and allow for some possibility of manipulation such that the curve may contain intentional weaknesses or “backdoors”. There is some precedence for this type of intentional weakness as NIST previously published a standard for a cryptographi- cally secure random number generator based on elliptic curve operations called Dual_EC_DRBG. The backdoor was suspected even before the standard was published and it was later revealed in a Reuters article that RSA Secu- rity was paid $10 million to incorporate this algorithm as the default random number generator in the RSA BSAFE library, though RSA denies this allegation [43]. The back- door allows someone that knows a secret set of numbers to break the encryption of any message given only 32 bits of ciphertext [53].
Many of these standardized elliptic curves either have theo- retical weaknesses or were generated using questionable parameters. For example, the NIST P-256 curve is viewed skeptically by some cryptographers because derivation of the curve parameters are not well explained and allow for some possibility of manipulation such that the curve may contain intentional weaknesses or “backdoors”. There is some precedence for this type of intentional weakness as NIST previously published a standard for a cryptographi- cally secure random number generator based on elliptic curve operations called Dual_EC_DRBG. The backdoor was suspected even before the standard was published and it was later revealed in a Reuters article that RSA Secu- rity was paid $10 million to incorporate this algorithm as the default random number generator in the RSA BSAFE library, though RSA denies this allegation [43]. The back- door allows someone that knows a secret set of numbers to break the encryption of any message given only 32 bits of ciphertext [53].
Fig. 2 Classification of Blockchain vulnerability
Fig. 2 Classification of Blockchain vulnerability
Fig. 4 Eclipse attack [62] Fig. 3 Illustration of Sybil attack
Fig. 4 Eclipse attack [62] Fig. 3 Illustration of Sybil attack
Fig.5 Estimation of resources required to compute elliptic curve discrete logarithms using Shor’s algorithm versus factoring an RSA modulu using Shor’s algorithm
Fig.5 Estimation of resources required to compute elliptic curve discrete logarithms using Shor’s algorithm versus factoring an RSA modulu using Shor’s algorithm
Fig.6 An illustration of the race attack, which attempts to double- spend the same digital asset DDoS attacks are not specific to blockchain networks, but they can be used with some specific variation to attack blockchain and asset exchange networks. In this type of attack, an attacker typically leverages a network of hijacked devices to flood a network with an excessive amount of requests that cripple the network’s ability to service legiti- mate traffic. Blockchain and exchange networks may protect against DDoS attacks in some fashion, but this protection is admittedly vulnerable to more complex attacks [65]. Bitcoin Gold, one of the cryptocurrencies forked from Bitcoin, suf- fered a massive DDoS attack during its launch, receiving
Fig.6 An illustration of the race attack, which attempts to double- spend the same digital asset DDoS attacks are not specific to blockchain networks, but they can be used with some specific variation to attack blockchain and asset exchange networks. In this type of attack, an attacker typically leverages a network of hijacked devices to flood a network with an excessive amount of requests that cripple the network’s ability to service legiti- mate traffic. Blockchain and exchange networks may protect against DDoS attacks in some fashion, but this protection is admittedly vulnerable to more complex attacks [65]. Bitcoin Gold, one of the cryptocurrencies forked from Bitcoin, suf- fered a massive DDoS attack during its launch, receiving
Fig.7 An illustration of forks in a blockchain. The main chain is shown in black with stale blocks shown in purple
Fig.7 An illustration of forks in a blockchain. The main chain is shown in black with stale blocks shown in purple
Fig.9 BlockChain vulnerability reason and counter Fig. 8 Coding flow reported in bitcoin during 2018
Fig.9 BlockChain vulnerability reason and counter Fig. 8 Coding flow reported in bitcoin during 2018
3.1.1 Background also impractical to fork any blockchain in which losses take place, splitting the community between the purists who are fully dedicated to the blockchains true history, good or bad, and the realists who do not want to take a hit for 533 million due to lax security and poor coding practices (Figs.8, 9).
3.1.1 Background also impractical to fork any blockchain in which losses take place, splitting the community between the purists who are fully dedicated to the blockchains true history, good or bad, and the realists who do not want to take a hit for 533 million due to lax security and poor coding practices (Figs.8, 9).
Fig. 11 Published journal in last 3 years with a proof of concept in blockchain
Fig. 11 Published journal in last 3 years with a proof of concept in blockchain
Fig. 12 Various blockchain frameworks for different purposes
Fig. 12 Various blockchain frameworks for different purposes
In Fig. 14 we can see the paradox of Bigdata investment Fig. 14 Bigdata investment and cost paradox [32] From recent bigdata survey [2], We can see that maintain- ing big data center is increasing operational cost worldwide and this cost getting higher day by day, no matter how much cheaper the data medium or bandwidth speed increase. On average each of the 24 firms had 16 data center sites.It stated that “The companies with the broadest data center footprint are the leading cloud providers—Amazon/AWS, Microsoft, IBM and Google. Each has 45 or more data center locations with at least three in each of the four regions—North Amer- ica, APAC, EMEA and Latin America. Oracle and Alibaba also have a notably broad data center presence. The remain- ing firms tend to have their data centers focused primarily in either the US (Apple, Twitter, Facebook, eBay, LinkedIn, Yahoo) or China (Tencent, Baidu)” [2].
In Fig. 14 we can see the paradox of Bigdata investment Fig. 14 Bigdata investment and cost paradox [32] From recent bigdata survey [2], We can see that maintain- ing big data center is increasing operational cost worldwide and this cost getting higher day by day, no matter how much cheaper the data medium or bandwidth speed increase. On average each of the 24 firms had 16 data center sites.It stated that “The companies with the broadest data center footprint are the leading cloud providers—Amazon/AWS, Microsoft, IBM and Google. Each has 45 or more data center locations with at least three in each of the four regions—North Amer- ica, APAC, EMEA and Latin America. Oracle and Alibaba also have a notably broad data center presence. The remain- ing firms tend to have their data centers focused primarily in either the US (Apple, Twitter, Facebook, eBay, LinkedIn, Yahoo) or China (Tencent, Baidu)” [2].
is comes to crowd sourcing. There is some new research on crowd sourcing with blockchain has done.
is comes to crowd sourcing. There is some new research on crowd sourcing with blockchain has done.

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Sayani Chandra

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The successful adoption and operation of any new technology is dependent on the appropriate management of the risks associated with that technology. This is especially true when that technology is more than an application and is part of the organization’s core infrastructure. And distributed ledger technologies (DLT) like blockchain technology have the potential to be the backbone of many core platforms in the near future. The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. It has become a focus of global attention since its development as banks around the world seek to understand and harness its disruptive potential. Many of the industries has been exploring how to use blockchains across a variety of internal and client facing issues. Blockchain has the potential to transform our world. However, leading into 2018 the focus will move from “how to use a blockchain” to “how to secure a blockchain...

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A Survey of Blockchain Technology Security
IJCERT Publications

International Journal of Computer Engineering in Research Trends, 2019

Bitcoin is a popular cryptocurrency that records all transactions in an allotted append-handiest public ledger referred to as a blockchain. The security of Bitcoin heavily relies on the motivation-suitable proof-of-work (PoW) founded dispensed consensus protocol, which is run with the aid of the community nodes known as miners. Because of its inception, blockchain technological know-how has proven promising application possibilities. The spectrum of blockchain functions stages from financial, healthcare, automobile, hazard administration, internet of matters (IoT) to public and social offerings. Several reports focal point on utilizing the blockchain information structure in various applications. These vulnerabilities result in the execution of different security threats to the ordinary functionality of Bitcoin. We then examine the feasibility and robustness of the brand new safety solutions. Moreover, we discuss the current anonymity concerns in Bitcoin and the privateness-related threats to Bitcoin customers together with the evaluation of the comprehensive privacy-keeping solutions.

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  • Computer Science
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    Lecture Notes in Networks and Systems

    Blockchain is the backbone of digital cryptocurrency systems, and it eliminates the need for a central authority in a decentralized network. Blockchain is a system that allows the sharing of information securely and transparently in a peer-to-peer connected decentralized network consisting of untrustable users. Blockchain technology ensures security, equality, and fairness of the system by following a well-defined set of rules known as a consensus protocol. These consensus protocols are at the core of blockchain technology and secure the network from various attacks and frauds. It is nearly impossible to breach a system following these protocols. There are various consensus protocols, each with its advantages and disadvantages. In this paper, we have discussed various consensus protocols in terms of performance, fairness, resource requirements, and security breaches. We have discussed the working of typical blockchain technology by describing major concepts in the implementation of bitcoin technology. We also discussed the most common security breaches in decentralized systems.

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    Research and Applied Perspective to Blockchain Technology: A Comprehensive Survey
    Sumaira Johar

    Applied Sciences, 2021

    Blockchain being a leading technology in the 21st century is revolutionizing each sector of life. Services are being provided and upgraded using its salient features and fruitful characteristics. Businesses are being enhanced by using this technology. Countries are shifting towards digital currencies i.e., an initial application of blockchain application. It omits the need of central authority by its distributed ledger functionality. This distributed ledger is achieved by using a consensus mechanism in blockchain. A consensus algorithm plays a core role in the implementation of blockchain. Any application implementing blockchain uses consensus algorithms to achieve its desired task. In this paper, we focus on provisioning of a comparative analysis of blockchain’s consensus algorithms with respect to the type of application. Furthermore, we discuss the development platforms as well as technologies of blockchain. The aim of the paper is to provide knowledge from basic to extensive fro...

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    iTrust—A Trustworthy and Efficient Mapping Scheme in Elliptic Curve Cryptography
    Ahmad almogren

    Sensors, 2020

    Recently, many platforms have outsourced tasks to numerous smartphone devices known as Mobile Crowd-sourcing System (MCS). The data is collected and transferred to the platform for further analysis and processing. These data needs to maintain confidentiality while moving from smartphones to the platform. Moreover, the limitations of computation resources in smartphones need to be addressed to balance the confidentiality of the data and the capabilities of the devices. For this reason, elliptic curve cryptography (ECC) is accepted, widespread, and suitable for use in limited resources environments such as smartphone devices. ECC reduces energy consumption and maximizes devices’ efficiency by using small crypto keys with the same strength of the required cryptography of other cryptosystems. Thus, ECC is the preferred approach for many environments, including the MCS, Internet of Things (IoT) and wireless sensor networks (WSNs). Many implementations of ECC increase the process of encry...

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    On the suitability of blockchain platforms for IoT applications: Architectures, security, privacy, and performance
    Konstantinos Limniotis, Σωτήρης Μπρότσης, Keltoum Bendiab

    Computer Networks, 2021

    Blockchain and distributed ledger technologies have received significant interest in various areas beyond the financial sector, with profound applications in the Internet of Things (IoT), providing the means for creating truly trustless and secure solutions for IoT applications. Taking into account the weak security defences that the majority of IoT devices have, it is critical that a blockchain-based solution targeting the IoT is not only capable of addressing the many challenges IoT is facing, but also does not introduce other defects, e.g. in terms of performance, making its adoption hard to achieve. This paper aims at addressing the above needs by providing a comprehensive and coherent review of the available blockchain solutions to determine their ability to meet the requirements and tackle the challenges of the IoT, using the smart home as the reference domain. Key architectural aspects of blockchain solutions, like the platforms' software and network setups, the consensus protocols used, as well as smart contracts, are examined in terms of their ability to withstand various types of common IoT and blockchain attacks, deliver enhanced privacy features, and assure adequate performance levels while processing large amounts of transactions being generated in an IoT environment. The analysis carried out identified that the defences currently provided by blockchain platforms are not su cient to thwart all the prominent attacks against blockchains, with blockchain 1.0 and 2.0 platforms being susceptible to the majority of them. On the other side, privacy related mechanisms are being supported, to varying degrees, by all platforms investigated; however, each of the them tackles specific only privacy aspects, thus rendering the overall privacy evaluation a challenging task which needs to be considered in an ad-hoc basis. If the underlying consensus protocols' performance and fault tolerance is also considered, then only a small number of platforms meet the requirements of our reference IoT domain. This project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement no. 786698. The work reflects only the authors' view and the Agency is not responsible for any use that may be made of the information it contains.

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    Risks in Blockchain – A Survey about Recent Attacks with Mitigation Methods and Solutions for Overall
    Tauheed Khan Mohd

    2022 IEEE International Conference on Electro Information Technology (eIT), 2022

    The purpose of this paper is to analyze the context and attack surface of a variety of security breaches and attacks on cryptocurrency blockchains. For many different types of blockchain attacks, such as distributed denial-of-service (DDoS) attacks and majority (51%) attacks, there is very little literature investigating and comparing particular attack instances as opposed to focusing on general theoretical studies and mitigation techniques. The attacks investigated here include a series of DDoS attacks on the Bitfinex cryptocurrency exchange and a group of instances of the 51% attack on thirteen different cryptocurrency blockchains. The goal of this research is to find traits in the context and attack surface that exacerbate the losses caused by certain attacks as opposed to others. It will then propose solutions and mitigation techniques based on the circumstances of the cases where the impact of the attack was less serious. Index Terms—blockchain, technology, security, bitcoin, online markets

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